SOURCE: Axial Vector Engine Corp.

April 12, 2010 05:34 ET

Axial Vector Energy Corporation Announces Completion of Audited Financials

DUBAI, UNITED ARAB EMIRATES--(Marketwire - April 12, 2010) - Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) is pleased to announce completion of audited financials through December 31, 2009, which are consistent with disclosures published previously. The full text, along with related management discussion, will be available shortly through the OTC Disclosure and News Service via www.otcmarkets.com, which provides similar service for some 9,000 OTCQX, OTCBB and Pink Sheets securities. Future news releases and financial disclosures, such as quarterly Balance Sheets and Income Statements, Annual Reports, and Proxy Statements, will be posted there, with a link provided from www.axialvectorenergy.com as well.

Stated AVEC Chairman Sam Higgins, "Publishing up to date, audited financials, returning to full SEC reporting and compliance, and initiating analyst coverage are important first steps in our plan to move to a higher exchange, an index and higher levels of capitalization. We are currently discussing future plans and capitalization requirements with a number of European and GCC investors and bankers. We'll share results as events occur."

About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

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